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What would it take?
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<blockquote data-quote="hypo hanna" data-source="post: 1263547" data-attributes="member: 42600"><p>Oh they got screwed too, just not nearly as bad as the newer employees. Before , pension payouts would be based on the average of the top 5 years of pay. For the vast majority of workers that would be the last 5 years as well. So in my case I worked (invested), 30 years but still have a way to go before I would reach those top five years. Now whats left of my old pension is based on my pay scale before we we t to the 401k porta potty plan. The differance for some can mean as much as 30% less after compounding.</p><p></p><p> The pension was a sure thing, now we are forced to gamble our golden years on the whims of the stock market and trust that those big brained corporate leaders don't screw it all up again like they did in 2008.</p></blockquote><p></p>
[QUOTE="hypo hanna, post: 1263547, member: 42600"] Oh they got screwed too, just not nearly as bad as the newer employees. Before , pension payouts would be based on the average of the top 5 years of pay. For the vast majority of workers that would be the last 5 years as well. So in my case I worked (invested), 30 years but still have a way to go before I would reach those top five years. Now whats left of my old pension is based on my pay scale before we we t to the 401k porta potty plan. The differance for some can mean as much as 30% less after compounding. The pension was a sure thing, now we are forced to gamble our golden years on the whims of the stock market and trust that those big brained corporate leaders don't screw it all up again like they did in 2008. [/QUOTE]
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